All posts by BusinessNews Staff

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  Iran plans economic partnership with Nigeria

  The Islamic Republic of Iran is planning to develop economic and trade relations with Nigeria, the Iranian Ambassador to Nigeria, Mr. Saeed Koozechi, has said. He said the decision followed Iran’s new policy towards economic cooperation and...

  • Posted May 25, 2015
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  Citizens wait on Buhari as Nigeria’s economy shuts down

  Five days to the inauguration of the Muhammadu Buhari administration, it appears that the Nigerian economy has shut down as the outgoing government of President Goodluck Jonathan is more concerned with sacking and making new appointments than...

  • Posted May 24, 2015
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  Wal-Mart pushes US meat suppliers to limit antibiotics

  Wal-Mart Stores called Friday for meat suppliers to their US operations to curb the use of antibiotics and follow globally recognized guidelines on humane treatment of farm animals. The push was directed at suppliers to Walmart US...

  • Posted May 24, 2015
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  Despite scarcity, daily subsidy on petrol hits N1.81bn

  The Federal Government is still spending about N1.81bn daily to subsidise the Premium Motor Spirit, otherwise called petrol, notwithstanding the nationwide scarcity of the product. Latest figures from the Petroleum Products Pricing Regulatory Agency show that the...

  • Posted May 24, 2015
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  We have no money to import fuel — Marketers

  There are indications that the current fuel scarcity may not abate unless the Federal Government pays the outstanding N200m reportedly being owed the oil marketers as subsidy claims. The oil marketers, who confirmed to our correspondent that...

  • Posted May 24, 2015
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  Nigerian artists dominate global art auction, as new record is set

  When the hammer fell to signal the end of the Africa Now sale in Bonhams, London, last Wednesday, Ben Enweonwu’s sculpture Anyanwu had fetched a staggering £74,500. His Africa Dances painting sold for £68,500. It was not...

  • Posted May 24, 2015
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  Ecobank chairman assures shareholders of greater returns

  The Chairman, Ecobank Transnational Incorporated, Mr. Emmanuel Ikazoboh, has reiterated the commitment of the group to sustained growth, assuring the shareholders of greater returns. “Through our board, management and staff, we have an unparalleled passion and commitment...

  • Posted May 23, 2015
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  NSE index falls further

  The equities market closed on a negative note for the third straight session on Thursday as investor optimism continued to wane. The Nigerian Stock Exchange’s benchmark index, the All-Share Index, closed lower, shedding 73.7 basis points or...

  • Posted May 23, 2015
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  Banks to surpass Q1 positive outlook on back of new CRR policy

  Banks’ stellar performance in their first quarter outing despite headwinds may be consolidated and improved upon by the recent harmonisation of Cash Reserve Ratio (CRR) by the Central Bank of Nigeria, (CBN) analysts have said. With cumulative...

  • Posted May 23, 2015
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  Nigeria benefits $20bn FDI in 3 years

  Olusegun Aganga, minister of industry, trade and investment, said Nigeria benefited $20 billion of Foreign Direct Investment (FDI) in the last three years, making it Africa’s top destination for investment. Aganga said this at the public presentation...

  • Posted May 23, 2015
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